Australian miner Kingston Resources has successfully processed ore from its new openpit at Pearse North into gold at the refurbished processing plant at Mineral Hill, in New South Wales.
With no hedging, Kingston is taking full advantage of the rising prices with sales of gold at more than A$3 700/oz – a record for the company.
“The entire team is excited with progress on ramping up Mineral Hill and the recommencement of gold and silver sales,” reported MD and CEO Andrew Corbett on Friday.
Openpit mining at Mineral Hill is initially focused on Pearse North, with oxide and transitional ore continuing into next quarter, at which time sulphide ore production will start at Pearse North. Mining at Pearse South is also due to commence next quarter. Pearse South was mined historically and will therefore be producing high-grade sulphide once under way.
“Our site team has done an outstanding job in leading the plant refurbishment and openpit startup safely and delivering a step change in production at Mineral Hill. The refurbishment team are finalising the work programme on the flotation plant which we expect to commission during October, when we commence sulphide ore production from the openpits,” Corbett stated.